Stephen Clark was named head of the North American institutional group at Dimensional Fund Advisors, effective March 15, confirmed Faith Yando, vice president of global public relations.
He replaces David Schneider, who is retiring.
“In addition to assisting Dimensional's growth as an investment management firm, Dave has also contributed to the careers of many current and former Dimensional employees by serving as a mentor and providing valuable guidance,” Eduardo Repetto, Dimensional's co-CEO, in a note to clients obtained by Pensions & Investments.
Mr. Clark, a DFA vice president, was head of portfolio management. Joseph Chi and Jed Fogdall, senior portfolio managers, will replace Mr. Clark as co-heads of portfolio management, according to a Dimensional news release.
Messrs. Chi and Fogdall “will continue many of their current responsibilities, including membership on the investment committee and investment policy committee,” Ms. Yando said in an e-mailed response to questions. “Some of their day-to-day portfolio management responsibilities have transitioned to other senior portfolio managers.”
Mr. Repetto, in his client note, said: “Since joining Dimensional in 2001, Steve has held many different roles on the portfolio management team and has contributed to the growth of our world-class portfolio management organization.”